US stock futures dipped on Sunday evening as the country headed into another week of uncertainty around coronavirus.
Dow futures dropped 346 points, or 1.5%. S&P 500 futures also fell 1.5%, and Nasdaq futures were down 1.3%.Last week again brought painful economic data. More than 30 million Americans have now filed initial unemployment claims since the middle of March. Economists surveyed by Refinitiv expect the unemployment rate to have hit 16.1% last month, which would be its highest level since 1939.
Over the past week, many companies also warned investors of challenging times ahead as they reported earnings for the first three months of 2020. While many US companies only really began feeling the effects of coronavirus during the final month of the first quarter, the pandemic and the economic crisis resulting from it will weigh on companies throughout the June quarter, and likely beyond.
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